Northpointe Bancshares Inc’s Quiet Period To End on March 26th (NYSE:NPB)

Northpointe Bancshares’ (NYSE:NPB) quiet period will expire on Wednesday, March 26th. Northpointe Bancshares had issued 10,420,000 shares in its public offering on February 14th. The total size of the offering was $151,090,000 based on an initial share price of $14.50. During Northpointe Bancshares’ quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NPB shares. Keefe, Bruyette & Woods initiated coverage on shares of Northpointe Bancshares in a report on Tuesday, March 11th. They set an “outperform” rating and a $18.00 target price for the company. Piper Sandler initiated coverage on shares of Northpointe Bancshares in a research note on Tuesday, March 11th. They issued an “overweight” rating and a $16.50 price objective for the company.

Northpointe Bancshares Price Performance

Northpointe Bancshares stock opened at $14.55 on Friday. Northpointe Bancshares has a 1-year low of $13.50 and a 1-year high of $14.98.

Insider Buying and Selling

In related news, CEO Charles Alan Williams acquired 17,241 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were bought at an average price of $14.50 per share, for a total transaction of $249,994.50. Following the acquisition, the chief executive officer now owns 17,241 shares in the company, valued at $249,994.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vlieger Robert W. De II sold 50,819 shares of Northpointe Bancshares stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $13.56, for a total transaction of $689,105.64. Following the sale, the director now owns 760,828 shares in the company, valued at approximately $10,316,827.68. This trade represents a 6.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Northpointe Bancshares Company Profile

We are a bank holding company headquartered in Grand Rapids, Michigan and registered under the Bank Holding Company Act of 1956, as amended (the “BHC Act”). We operate our business primarily through our wholly-owned banking subsidiary, Northpointe Bank. We emphasize to our employees and clients that our specialized business lines differentiate us as a business that has the added benefit of being a bank.